ANNA — At the Sept. 22 meeting of the Anna Village Council, the council passed an ordinance amending, restating and adopting certain described boundaries of the Anna Community Reinvestment Area (CRA) in the Village of Anna.
Previously Anna was designated as a CRA, but when they annexed Timber Trail Subdivision they needed to add that area in. A CRA allows the village to offer tax abatements for new or additions/remodels to homes or businesses.
The tax abatement varies on the type if it’s a new structure or addition as to the percentage of abatement and how many years. For example, a new home can apply for a tax abatement on the structure of 100 percent of the property taxes for four years, whereas a remodeled/addition can be abated for the improvement for 100 percent for five years. Commercial and industrial abatements are reviewed by a board and the terms vary upon their decision.
To view the entire document, you can visit the website at www.villageofannaoh.com or stop in at the town hall located at 209 W. Main St., Anna.